Currently testing neckline of potential head and shoulders formation, both the left shoulder and head currently being present, wait too see what candle forms both on the 4hr and 1hr (1hr showing potential for a double tweezer bottom and 4hr for a spinning top) . Furthermore we currently have an overall upwards trend dating back to the 29th of November where the...
AUDCAD showing potential double top forming on the hourly chart, finding resistance at 38.2% fib level. Furthermore also forming within a pennant with an overall upwards trend since the start of 02/10/19. We can also find divergence between both the price and momentum at this resistance level. I would be looking at a profit target of 0.90058 and a stop loss at...
Both 50 EMA and 200 EMA showing strong potential of a crossover to the downside, furthermore we also see a clear head and shoulders pattern forming within the near future. Once we see a clear break of the bottom support trend line as well as the break of the 50% fib we will look for a short at a profit target of 71.778 (200 Pips) where the neckline is currently...
AUD/CAD Currently showing multiple resistance touches at the 38.2% fib level. Furthermore alongside this we can also see an ascending triangle forming, whereby buyers are trying to push market price higher and higher however failing to break resistance but increasing the height of the support along the bottom trend line. We currently see a potential Doji forming...
USD/CAD showing multiple resistance taps on the 0.786 fib level, tapping three times on both the support and resistance. Furthermore forming a ascending triangle, most likely leading to a strong upwards trend in the future. Re-test has approached previous zone of resistance and buyers are becoming exhausted. Potential doji candlestick forming on the new hourly...
